77-2007. Inheritance tax; property exempt.If any estate includes payments under an employee benefit plan, such payments shall not be subject to Nebraska inheritance taxation to the extent that (1) the benefit is life insurance otherwise excluded from taxation pursuant to section 77-2001, or (2) the benefit is not subject to federal estate taxation pursuant to section 2039 of the Internal Revenue Code.Source Laws 1931, c. 132, § 1, p. 371; C.S.Supp.,1941, § 77-2201; R.S.1943, § 77-2007; Laws 1947, c. 262, § 3, p. 852; Laws 1949, c. 241, § 1, p. 654; Laws 1951, c. 268, § 1, p. 902; Laws 1971, LB 981, § 1; Laws 1976, LB 585, § 7. Annotations A bequest in the nature of a trust to an association in this state for expenditure by it within this state for exclusively charitable purposes is exempt from inheritance taxes. In re Estate of Halstead, 154 Neb. 31, 46 N.W.2d 779 (1951). To be exempt from inheritance tax, legacy must come within the strict letter of the statute. In re Rudge's Estate, 114 Neb. 335, 207 N.W. 520 (1926).
Nebraska Legal Code